Saturday, July 24, 2021

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Ovex: Raises $4M in Funding

  • Ovex, a Cape Town, South Africa-based market-focused cryptocurrency exchange platform specializing in over-the-counter (OTC) trading, raised $4m in funding
  • Quantitative cryptocurrency trading firm Alameda Research, developer of FTX, a crypto derivatives exchange, is leading the $18m Series A fundraising round
  • The company intends to use the funds to expand into Dubai, Nairobi, Quebec, and London, as well as Lagos when the Nigerian central bank loosens its cryptocurrency ban
  • Ovex is a cryptocurrency exchange platform, specializing in OTC trading and arbitrage, offering South Africa‚Äôs largest selection of digital asset markets
  • With $300m (USD) in monthly trading volume, the company delivers prime brokerage services to institutions and high net-worth individuals globally amid rising demand for crypto access
  • The platform, which offers 26 cryptocurrencies and ZAR deposits, will soon offer a multitude of Fiat options

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